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Feb 2, 2013 4:10pm EST
he went to china and was asked by the minister of finance or somebody like that in china, a very smart man. he asked milton freeman who is in charge of materials distribution in the united states? he said for once he is speechless? who is in charge? i thought of telling him the chicago board of trade but that is not the answer either. the answer is no one is in charge of materials distribution. the market coordinates that and that's why we have a lot of materials in the united states and they had hard i will materials in china back when they tried to plan and organize materials distribution. this was written about the spontaneous order which is the idea that experts can direct resources more efficient i will than can millions of independent decision makers. we saw that most strikingly in the communist world. the soviets could plan something more efficient than the chaos of the free marketplace. but we also see it here at home. we see back in the clinton administration they brought in him and he was going to organize the entire economy and decide what goods and services we will ne
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